Investment Report for the Quarter Ending September 30, 2025

Investment Performance Review
For the Quarter Ended September 30, 2025
Client Management Team
PFM Asset Management
A division of U.S. Bancorp Asset Management, Inc
Luke Schneider, CFA, Managing Director
Annette Gaston, Director
213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
1101 W. Washington Street
Tempe, AZ 85288
480-271-0432
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public
CITY OF CHANDLER

PFM Asset Management  |  pfmam.com
•
Account Summary
•
Portfolio Review
1

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Account Summary
2

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CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Account Summary
Account Summary
Yield at market, yield on cost, and portfolio duration only include investments held within the separately managed account(s), excludes balances invested in overnight funds.
1.
CHANDLER WORKERS COMP & EMPLOYER TRUST
Portfolio Values
September 30, 2025
PFMAM Managed Account
$22,601,039
Amortized Cost
$22,422,067
Market Value
$22,601,039
Accrued Interest
$229,086
Cash
$101,293
Analytics¹
September 30, 2025
Yield at Market
3.76%
Yield on Cost
4.19%
Portfolio Duration
1.78
3

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CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Account Summary
1.1%
15.4%
83.5%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
**First American Funds - $244,657
Corporate - $3,549,825
U.S. Treasury - $19,280,301
Portfolio Allocation
Sector Limit for Analysis*
Sector Allocation Analytics
For informational/analytical purposes only and is not provided for compliance assurance. Included accrued interest. 
*Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided.
**First American Funds Balance as of 6/30/25.
4

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CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Account Summary
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,
excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balances
invested in overnight funds.
Issuer Diversification
Market Value (%) S&P / Moody's / Fitch
Security Type / Issuer
84.5%
U.S. Treasury
United States Treasury
84.5%
AA / Aa / AA
15.5%
Corporate
Advanced Micro Devices Inc
0.4%
A / A / NR
Bank of America Corp
0.9%
A / Aa / AA
Bank of New York Mellon Corp
1.3%
A / Aa / AA
BlackRock Inc
0.4%
AA / Aa / NR
Caterpillar Inc
0.7%
A / A / A
Charles Schwab Corp
0.5%
A / A / A
Chevron Corp
0.8%
AA / Aa / NR
Cisco Systems Inc
0.2%
AA / A / NR
Citigroup Inc
0.7%
BBB / A / A
Depository Trust & Clearing Corp
1.5%
AA / Aa / NR
Eli Lilly & Co
0.7%
A / Aa / NR
Goldman Sachs Group Inc
0.8%
A / A / A
Johnson & Johnson
0.2%
AAA / Aaa / NR
JPMorgan Chase & Co
1.2%
A / Aa / AA
Kenvue Inc
0.5%
A / A / NR
Mastercard Inc
0.7%
A / Aa / NR
Morgan Stanley
0.7%
A / Aa / AA
National Rural Utilities Cooperative Fi
0.4%
NR / A / A
PepsiCo Inc
0.7%
A / A / NR
State Street Corp
1.1%
A / Aa / AA
Toyota Motor Corp
0.7%
A / A / A
Walmart Inc
0.3%
AA / Aa / AA
100.0%
Total
5

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Portfolio Review:
CHANDLER WORKERS COMP & EMPLOYER TRUST
6

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Snapshot
1. Total market value includes accrued interest and balances invested in PFM AM, as of September 30, 2025. Yield and duration calculations exclude balances invested in PFMAM.
2. An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.
3. The portfolio’s benchmark is currently the ICE BofA 1-3 Year U.S Treasury Index. Prior to 3/31/17 it was the ICE BofA 0-3 Year U.S Treasury Index. Source: Bloomberg Financial LP.
Portfolio Snapshot - CHANDLER WORKERS COMP & EMPLOYER TRUST¹
Credit Quality - S&P2
9%
57%
34%
8%
36%
0%
20%
40%
60%
0-1 Yr
1-2 Yrs
2-3 Yrs
Portfolio
Benchmark3 
56%
Duration Distribution
U.S. Treasury | 84%
Corporate | 16%
Sector Allocation
AAA | <1%
AA+ | 86%
AA | <1%
AA- | 2%
A+ | 5%
A | 5%
A- | 1%
BBB+ | 1%
Not Rated | <1%
Portfolio Statistics
Portfolio Effective Duration
1.78 years
Benchmark Effective Duration
1.77 years
Portfolio Credit Quality
AA
Yield At Market
3.76%
Yield At Cost
4.19%
Total Market Value
$22,931,418.55
$22,601,039.20
Securities Sub-Total
$101,293.30
Cash
$229,086.05
Accrued Interest
7

Liquidity Vehicle
Quarter-End Yield
Allspring Treasury Plus Money 
Market A Fund1
4.06%
First American Funds2
4.11%
1.
Allspring Treasury Plus Money Market A Fund ticker symbol PISXX. Account yield is the 30-day current yield from Fund website as of September 30, 2025.
2.
First American Funds ticker symbol FGZXX; Account yield is the Net Annualized Monthly Average Yield as of September 30, 2025. For U.S. Treasury, Treasury Obligations and Government
Obligations –You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the
Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and
you should not expect that the sponsor will provide financial support to the Fund at any time.
CITY OF CHANDLER
8
For the Quarter Ended September 30, 2025
Portfolio Snapshot
PFM Asset Management  |  pfmam.com
8

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Characteristics
$0.0
$4.6
$9.2
$13.8
$18.4
$23.0
Millions
September 2025
$0.0
$4.6
$9.2
$13.8
$18.4
$23.0
Millions
June 2025
$0.0
$4.6
$9.2
$13.8
$18.4
$23.0
Millions
March 2025
$0.0
$4.6
$9.2
$13.8
$18.4
$23.0
Millions
December 2024
Sector Allocation Review - CHANDLER WORKERS COMP & EMPLOYER TRUST
U.S. Treasury
Federal Agency
Municipal
Corporate
Market values, excluding accrued interest. Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. Detail may not add to total due to rounding.
Dec-24
% of Total
Security Type
Mar-25
% of Total
Jun-25
% of Total
% of Total
Sep-25
U.S. Treasury
$17.7
88.2%
$17.8
84.2%
$18.1
81.3%
$19.1
84.4%
Federal Agency
$1.0
4.9%
$1.0
4.7%
$1.0
4.5%
$0.0
0.0%
Municipal
$0.1
0.3%
$0.1
0.3%
$0.1
0.3%
$0.0
0.0%
Corporate
$1.3
6.6%
$2.3
10.8%
$3.1
13.9%
$3.5
15.6%
Total
$20.1
100.0%
$21.1
100.0%
$22.2
100.0%
$22.6
100.0%
9

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Activity
Portfolio Activity - CHANDLER WORKERS COMP & EMPLOYER TRUST
Net Activity by Sector
($ millions)
Federal Agency
Municipal
Corporate
U.S. Treasury
Federal Agency
Municipal
Corporate
U.S. Treasury
($1.5)
($1.0)
($0.5)
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.
Sector
Net Activity
U.S. Treasury
$994,413
Corporate
$423,531
Municipal
($55,000)
Federal Agency
($990,000)
$372,944
Total Net Activity
Sales/Maturities                       Purchases
10

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Performance
The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is March 31, 2013.
1.
Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.
2.
Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.
3.
The portfolio’s benchmark is currently the ICE BofA 1-3 Year U.S Treasury Index. Prior to 3/31/17 it was the ICE BofA 0-3 Year U.S Treasury Index. Source: Bloomberg Financial LP.
4.
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
Return
Portfolio
Benchmark
Portfolio Performance
Market Value Basis Earnings
3 Months
1 Year
3 Years
5 Years
10 Years¹
Interest Earned²
$226,361
$807,201
$1,558,230
$1,750,154
$2,365,754
Change in Market Value
$38,480
$68,317
$1,036,743
$270,748
$497,279
$264,841
Total Dollar Return
$875,518
$2,594,973
$2,020,902
$2,863,033
Total Return³
Portfolio
1.17%
4.11%
4.73%
1.94%
1.96%
Benchmark⁴
1.12%
3.87%
4.35%
1.57%
1.61%
3 Months
1 Year
3 Years
5 Years
10 Years
11

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Performance
The lesser of 10 years or since inception is shown. Performance inception date is March 31, 2013.
1.
Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.
2.
Realized gains / (losses) are shown on an amortized cost basis.
3.
Accrual Basis Earnings - CHANDLER WORKERS COMP & EMPLOYER TRUST
Accrual Basis Earnings
Interest Earned²
Realized Gains / (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
$226,361
($79)
$9,466
$235,747
1 Year
$807,201
($6,633)
$66,849
$867,417
3 Years
$1,558,230
($13,021)
$266,678
$1,811,887
5 Year
$1,750,154
$5,728
$258,582
$2,014,464
10 Year¹
$2,365,754
$55,298
$275,208
$2,696,259
12

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CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Composition
Issuer Distribution
As of September 30, 2025
Issuer
Market Value ($)
% of Portfolio
UNITED STATES TREASURY
19,082,849
84.43%
DEPOSITORY TRUST & CLEARING CORP
338,210
1.50%
BANK OF NEW YORK MELLON CORP
302,920
1.34%
JPMORGAN CHASE & CO
274,416
1.21%
STATE STREET CORP
258,271
1.14%
BANK OF AMERICA CORP
201,428
0.89%
CHEVRON CORP
182,512
0.81%
GOLDMAN SACHS GROUP INC
176,343
0.78%
MORGAN STANLEY
167,956
0.74%
ELI LILLY & CO
167,459
0.74%
TOYOTA MOTOR CORP
167,382
0.74%
MASTERCARD INC
161,609
0.72%
PEPSICO INC
157,155
0.70%
CITIGROUP INC
156,996
0.69%
CATERPILLAR INC
151,633
0.67%
KENVUE INC
117,491
0.52%
CHARLES SCHWAB CORP
108,084
0.48%
BLACKROCK INC
101,331
0.45%
NATIONAL RURAL UTILITIES COOPERATIVE FI
85,230
0.38%
ADVANCED MICRO DEVICES INC
80,697
0.36%
WALMART INC
79,637
0.35%
JOHNSON & JOHNSON
45,891
0.20%
CISCO SYSTEMS INC
35,538
0.16%
22,601,039
Grand Total
100.00%
13

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Holdings
Managed Account Detail of Securities Held
Security Type/Description
Dated Date/Coupon/Maturity
CUSIP
Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/B
DTD 01/17/2023 3.875% 01/15/2026
91282CGE5
900,000.00
AA+
Aa1
2/7/2023
2/8/2023
894,480.47
4.10
7,391.98
899,727.30
899,454.23
US TREASURY N/B
DTD 10/16/2023 4.625% 10/15/2026
91282CJC6
565,000.00
AA+
Aa1
11/3/2023
11/6/2023
564,779.30
4.64
12,066.07
570,223.99
564,919.05
US TREASURY N/B
DTD 12/15/2023 4.375% 12/15/2026
91282CJP7
580,000.00
AA+
Aa1
1/3/2024
1/4/2024
584,032.81
4.12
7,487.70
584,531.54
581,707.45
US TREASURY N/B
DTD 01/16/2024 4.000% 01/15/2027
91282CJT9
360,000.00
AA+
Aa1
1/26/2024
1/29/2024
358,396.88
4.16
3,052.17
361,350.00
359,279.71
US TREASURY N/B
DTD 02/15/2024 4.125% 02/15/2027
91282CKA8
930,000.00
AA+
Aa1
2/13/2024
2/15/2024
921,499.22
4.45
4,899.56
935,376.33
925,975.76
US TREASURY N/B
DTD 04/15/2024 4.500% 04/15/2027
91282CKJ9
820,000.00
AA+
Aa1
3/3/2025
3/4/2025
828,840.63
3.96
17,038.52
830,122.08
826,502.58
US TREASURY N/B
DTD 05/15/2024 4.500% 05/15/2027
91282CKR1
450,000.00
AA+
Aa1
5/9/2024
5/15/2024
448,488.28
4.62
7,648.78
455,871.15
449,157.43
US TREASURY N/B
DTD 05/15/2017 2.375% 05/15/2027
912828X88
1,160,000.00
AA+
Aa1
3/14/2024
3/15/2024
1,089,221.88
4.46
10,406.11
1,136,709.52
1,123,814.99
US TREASURY N/B
DTD 05/15/2024 4.500% 05/15/2027
91282CKR1
1,795,000.00
AA+
Aa1
6/5/2024
6/6/2024
1,793,667.77
4.53
30,510.12
1,818,419.37
1,794,245.00
US TREASURY N/B
DTD 07/15/2024 4.375% 07/15/2027
91282CKZ3
1,350,000.00
AA+
Aa1
8/1/2024
8/2/2024
1,363,763.67
4.00
12,518.68
1,366,927.65
1,358,526.59
US TREASURY N/B
DTD 07/15/2024 4.375% 07/15/2027
91282CKZ3
1,370,000.00
AA+
Aa1
7/18/2024
7/19/2024
1,376,421.88
4.21
12,704.14
1,387,178.43
1,373,936.12
US TREASURY N/B
DTD 08/15/2024 3.750% 08/15/2027
91282CLG4
650,000.00
AA+
Aa1
9/4/2024
9/5/2024
651,701.17
3.65
3,113.11
651,345.50
651,103.72
US TREASURY N/B
DTD 08/31/2022 3.125% 08/31/2027
91282CFH9
540,000.00
AA+
Aa1
4/1/2024
4/1/2024
517,028.91
4.48
1,445.10
535,000.68
527,123.66
US TREASURY N/B
DTD 09/16/2024 3.375% 09/15/2027
91282CLL3
695,000.00
AA+
Aa1
10/1/2024
10/2/2024
692,936.72
3.48
1,036.74
691,796.75
693,611.13
US TREASURY N/B
DTD 10/15/2024 3.875% 10/15/2027
91282CLQ2
445,000.00
AA+
Aa1
11/1/2024
11/4/2024
441,471.29
4.16
7,962.28
447,190.29
442,512.88
14

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CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
CUSIP
Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/B
DTD 11/15/2024 4.125% 11/15/2027
91282CLX7
890,000.00
AA+
Aa1
12/5/2024
12/6/2024
890,139.06
4.12
13,866.95
899,073.55
890,102.05
US TREASURY N/B
DTD 11/15/2017 2.250% 11/15/2027
9128283F5
347,000.00
AA+
Aa1
4/12/2024
4/15/2024
319,592.42
4.67
2,949.03
337,349.24
330,773.21
US TREASURY N/B
DTD 12/16/2024 4.000% 12/15/2027
91282CMB4
385,000.00
AA+
Aa1
1/3/2025
1/6/2025
382,037.31
4.28
4,544.26
388,158.16
382,744.70
US TREASURY N/B
DTD 03/17/2025 3.875% 03/15/2028
91282CMS7
1,095,000.00
AA+
Aa1
4/1/2025
4/2/2025
1,096,539.85
3.82
1,875.41
1,101,886.46
1,096,294.49
US TREASURY N/B
DTD 05/01/2023 3.500% 04/30/2028
91282CHA2
270,000.00
AA+
Aa1
5/12/2025
5/13/2025
266,224.22
4.00
3,954.62
269,219.43
266,688.14
US TREASURY N/B
DTD 05/15/2025 3.750% 05/15/2028
91282CND9
420,000.00
AA+
Aa1
5/21/2025
5/22/2025
416,915.63
4.01
5,949.05
421,345.26
417,269.10
US TREASURY N/B
DTD 05/15/2025 3.750% 05/15/2028
91282CND9
800,000.00
AA+
Aa1
6/2/2025
6/3/2025
796,406.25
3.91
11,331.52
802,562.40
796,784.92
US TREASURY N/B
DTD 07/15/2025 3.875% 07/15/2028
91282CNM9
1,000,000.00
AA+
Aa1
8/1/2025
8/5/2025
999,218.75
3.90
8,213.32
1,006,484.00
999,259.52
US TREASURY N/B
DTD 08/15/2025 3.625% 08/15/2028
91282CNU1
1,050,000.00
AA+
Aa1
8/13/2025
8/15/2025
1,049,138.67
3.65
4,861.24
1,050,000.00
1,049,174.23
US TREASURY N/B
DTD 08/15/2025 3.625% 08/15/2028
91282CNU1
135,000.00
AA+
Aa1
8/27/2025
8/28/2025
135,005.27
3.62
625.02
135,000.00
135,005.48
19,002,000.00
18,877,948.31
197,451.48
19,082,849.08
Security Type Sub-Total
4.13
18,935,966.14
Corporate
CHARLES SCHWAB CORP
(CALLABLE)
DTD 05/13/2021 1.150% 05/13/2026
808513BR5
110,000.00
A-
A2
7/25/2024
7/26/2024
102,473.80
5.19
484.92
108,083.91
107,341.82
BANK OF AMERICA NA  (CALLABLE)
DTD 08/18/2023 5.526% 08/18/2026
06428CAA2
100,000.00
A+
Aa2
10/23/2023 10/24/2023
99,158.00
5.85
660.05
101,244.00
99,736.77
JP MORGAN CHASE BANK NA
(CALLABLE)
DTD 12/08/2023 5.110% 12/08/2026
48125LRU8
160,000.00
AA-
Aa2
8/8/2024
8/9/2024
162,137.60
4.50
2,566.36
162,013.28
161,075.32
BANK OF AMERICA CORP
(CALLABLE)
DTD 01/20/2023 5.080% 01/20/2027
06051GLE7
100,000.00
A-
A1
2/1/2024
2/5/2024
100,027.00
5.07
1,001.89
100,183.70
100,011.89
15

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
CUSIP
Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
GOLDMAN SACHS BANK USA
(CALLABLE)
DTD 05/21/2024 5.414% 05/21/2027
38151LAG5
175,000.00
A+
A1
5/21/2025
5/22/2025
176,100.75
5.08
3,421.35
176,343.30
175,709.95
BLACKROCK FUNDING INC
(CALLABLE)
DTD 07/26/2024 4.600% 07/26/2027
09290DAH4
100,000.00
AA-
Aa3
7/17/2024
7/26/2024
99,997.00
4.60
830.56
101,330.90
99,998.27
CATERPILLAR FINL SERVICE
DTD 08/16/2024 4.400% 10/15/2027
14913UAR1
150,000.00
A
A2
8/12/2024
8/16/2024
149,925.00
4.42
3,043.33
151,633.05
149,950.52
TOYOTA MOTOR CREDIT CORP
DTD 01/12/2023 4.625% 01/12/2028
89236TKQ7
165,000.00
A+
A1
6/24/2025
6/25/2025
166,828.20
4.16
1,674.64
167,382.11
166,645.32
MASTERCARD INC  (CALLABLE)
DTD 09/05/2024 4.100% 01/15/2028
57636QBA1
90,000.00
A+
Aa3
9/3/2024
9/5/2024
89,950.50
4.12
779.00
90,476.73
89,965.75
PEPSICO INC  (CALLABLE)
DTD 02/07/2025 4.450% 02/07/2028
713448GA0
155,000.00
A+
A1
2/5/2025
2/7/2025
154,934.90
4.47
1,034.63
157,155.43
154,948.35
BANK OF NY MELLON CORP
(CALLABLE)
DTD 02/07/2017 3.442% 02/07/2028
06406RAB3
305,000.00
A
Aa3
8/6/2024
8/7/2024
296,319.70
4.33
1,574.72
302,920.21
299,032.47
ELI LILLY & CO  (CALLABLE)
DTD 02/12/2025 4.550% 02/12/2028
532457CU0
165,000.00
A+
Aa3
6/26/2025
6/27/2025
167,003.10
4.06
1,021.85
167,459.49
166,806.69
CISCO SYSTEMS INC  (CALLABLE)
DTD 02/24/2025 4.550% 02/24/2028
17275RBW1
35,000.00
AA-
A1
2/19/2025
2/24/2025
34,962.20
4.59
163.67
35,538.16
34,969.43
CHEVRON USA INC  (CALLABLE)
DTD 02/26/2025 4.475% 02/26/2028
166756BB1
180,000.00
AA-
Aa2
2/24/2025
2/26/2025
180,000.00
4.48
783.13
182,512.08
180,000.00
STATE STREET CORP  (CALLABLE)
DTD 02/28/2025 4.536% 02/28/2028
857477CU5
255,000.00
A
Aa3
2/25/2025
2/28/2025
255,000.00
4.54
1,060.29
258,270.63
255,000.00
JOHNSON & JOHNSON  (CALLABLE)
DTD 02/20/2025 4.550% 03/01/2028
478160DH4
45,000.00
AAA
Aaa
2/18/2025
2/20/2025
44,973.90
4.57
170.63
45,890.78
44,978.92
MASTERCARD INC  (CALLABLE)
DTD 02/27/2025 4.550% 03/15/2028
57636QBF0
70,000.00
A+
Aa3
2/18/2025
2/27/2025
69,946.80
4.58
141.56
71,131.83
69,956.74
KENVUE INC  (CALLABLE)
DTD 10/17/2023 5.050% 03/22/2028
49177JAF9
115,000.00
A
A1
6/27/2025
6/30/2025
117,715.15
4.12
145.19
117,491.02
117,469.04
ADVANCED MICRO DEVICES
(CALLABLE)
DTD 03/24/2025 4.319% 03/24/2028
007903BJ5
80,000.00
A
A1
3/10/2025
3/24/2025
80,000.00
4.32
67.18
80,697.28
80,000.00
16

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
CUSIP
Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
JPMORGAN CHASE & CO
(CALLABLE)
DTD 04/22/2024 5.571% 04/22/2028
46647PEE2
110,000.00
A
A1
6/3/2024
6/4/2024
110,733.70
5.38
2,706.58
112,402.51
110,410.32
NATIONAL SECS CLEARING
(CALLABLE)
DTD 05/30/2023 5.000% 05/30/2028
637639AK1
330,000.00
AA+
Aa1
7/18/2025
7/21/2025
335,821.20
4.20
5,545.83
338,210.40
335,435.69
NATIONAL RURAL UTIL COOP
(CALLABLE)
DTD 08/25/2025 4.150% 08/25/2028
63743HFZ0
85,000.00
NR
A2
8/19/2025
8/25/2025
84,904.80
4.19
352.75
85,229.76
84,907.85
WALMART INC  (CALLABLE)
DTD 09/22/2021 1.500% 09/22/2028
931142ES8
85,000.00
AA
Aa2
9/8/2025
9/9/2025
79,876.20
3.61
31.88
79,637.35
79,973.88
MORGAN STANLEY BANK NA
(CALLABLE)
DTD 01/21/2025 5.016% 01/12/2029
61690DK72
165,000.00
A+
Aa3
6/20/2025
6/23/2025
166,976.70
4.65
1,816.21
167,955.81
166,776.10
CITIGROUP INC  (CALLABLE)
DTD 03/04/2025 4.786% 03/04/2029
17327CAW3
155,000.00
BBB+
A3
2/25/2025
3/4/2025
155,000.00
4.79
556.37
156,996.40
155,000.00
3,485,000.00
3,480,766.20
31,634.57
3,518,190.12
Security Type Sub-Total
4.52
3,486,101.09
22,487,000.00
22,358,714.51
229,086.05
22,601,039.20
Managed Account Sub Total
Securities Sub Total
Accrued Interest
$22,487,000.00
$22,358,714.51
$229,086.05
$22,601,039.20
$229,086.05
22,422,067.23
$22,422,067.23
4.19
4.19%
Total Investments
$22,830,125.25
17

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Par ($)
CUSIP
Maturity
Date
Transact
Amount ($)
Coupon
Yield
at Market
Realized
G/L (BV)
Security Description
BUY
7/18/2025
7/21/2025
330,000.00
637639AK1
NATIONAL SECS CLEARING  (CALLABLE)
5.00%
5/30/2028
338,158.70
4.20%
8/1/2025
8/5/2025
1,000,000.00
91282CNM9
US TREASURY N/B
3.87%
7/15/2028
1,001,430.03
3.90%
8/13/2025
8/15/2025
1,050,000.00
91282CNU1
US TREASURY N/B
3.62%
8/15/2028
1,049,138.67
3.65%
8/19/2025
8/25/2025
85,000.00
63743HFZ0
NATIONAL RURAL UTIL COOP  (CALLABLE)
4.15%
8/25/2028
84,904.80
4.19%
8/27/2025
8/28/2025
135,000.00
91282CNU1
US TREASURY N/B
3.62%
8/15/2028
135,178.15
3.62%
9/8/2025
9/9/2025
85,000.00
931142ES8
WALMART INC  (CALLABLE)
1.50%
9/22/2028
80,467.66
3.61%
Total  BUY
2,685,000.00
2,689,278.01
0.00
CALL
8/14/2025
8/14/2025
860,000.00
3134HA6J7
FREDDIE MAC  (CALLABLE)
4.75%
2/14/2028
860,000.00
4.75%
Total  CALL
860,000.00
860,000.00
0.00
INTEREST
7/1/2025
7/1/2025
810454BL1
SCOTTSDALE-REF
0.60%
7/1/2025
167.20
7/1/2025
7/1/2025
MONEY0002
MONEY MARKET FUND
0.00%
110.43
7/12/2025
7/12/2025
61690DK72
MORGAN STANLEY BANK NA  (CALLABLE)
5.01%
1/12/2029
3,931.29
7/12/2025
7/12/2025
89236TKQ7
TOYOTA MOTOR CREDIT CORP
4.62%
1/12/2028
3,815.63
7/15/2025
7/15/2025
91282CKZ3
US TREASURY N/B
4.37%
7/15/2027
59,500.00
7/15/2025
7/15/2025
91282CJT9
US TREASURY N/B
4.00%
1/15/2027
7,200.00
18

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Par ($)
CUSIP
Maturity
Date
Transact
Amount ($)
Coupon
Yield
at Market
Realized
G/L (BV)
Security Description
INTEREST
7/15/2025
7/15/2025
91282CGE5
US TREASURY N/B
3.87%
1/15/2026
37,781.25
7/15/2025
7/15/2025
57636QBA1
MASTERCARD INC  (CALLABLE)
4.10%
1/15/2028
1,845.00
7/20/2025
7/20/2025
06051GLE7
BANK OF AMERICA CORP  (CALLABLE)
5.08%
1/20/2027
2,540.00
7/26/2025
7/26/2025
09290DAH4
BLACKROCK FUNDING INC  (CALLABLE)
4.60%
7/26/2027
2,300.00
8/1/2025
8/1/2025
MONEY0002
MONEY MARKET FUND
0.00%
333.42
8/7/2025
8/7/2025
713448GA0
PEPSICO INC  (CALLABLE)
4.45%
2/7/2028
3,448.75
8/7/2025
8/7/2025
06406RAB3
BANK OF NY MELLON CORP  (CALLABLE)
3.44%
2/7/2028
5,249.05
8/12/2025
8/12/2025
532457CU0
ELI LILLY & CO  (CALLABLE)
4.55%
2/12/2028
3,753.75
8/14/2025
8/14/2025
3134HA6J7
FREDDIE MAC  (CALLABLE)
4.75%
2/14/2028
20,425.00
8/15/2025
8/15/2025
91282CLG4
US TREASURY N/B
3.75%
8/15/2027
12,187.50
8/15/2025
8/15/2025
91282CKA8
US TREASURY N/B
4.12%
2/15/2027
19,181.25
8/18/2025
8/18/2025
06428CAA2
BANK OF AMERICA NA  (CALLABLE)
5.52%
8/18/2026
2,763.00
8/24/2025
8/24/2025
17275RBW1
CISCO SYSTEMS INC  (CALLABLE)
4.55%
2/24/2028
796.25
8/26/2025
8/26/2025
166756BB1
CHEVRON USA INC  (CALLABLE)
4.47%
2/26/2028
4,027.50
8/28/2025
8/28/2025
3135GACV1
FANNIE MAE  (CALLABLE)
4.00%
8/28/2025
2,600.00
8/28/2025
8/28/2025
857477CU5
STATE STREET CORP  (CALLABLE)
4.53%
2/28/2028
5,783.40
8/31/2025
8/31/2025
91282CFH9
US TREASURY N/B
3.12%
8/31/2027
8,437.50
19

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Par ($)
CUSIP
Maturity
Date
Transact
Amount ($)
Coupon
Yield
at Market
Realized
G/L (BV)
Security Description
INTEREST
9/1/2025
9/1/2025
478160DH4
JOHNSON & JOHNSON  (CALLABLE)
4.55%
3/1/2028
1,086.31
9/2/2025
9/2/2025
MONEY0002
MONEY MARKET FUND
0.00%
515.53
9/4/2025
9/4/2025
17327CAW3
CITIGROUP INC  (CALLABLE)
4.78%
3/4/2029
3,709.15
9/9/2025
9/9/2025
931142EW9
WALMART INC
3.90%
9/9/2025
1,560.00
9/15/2025
9/15/2025
57636QBF0
MASTERCARD INC  (CALLABLE)
4.55%
3/15/2028
1,751.75
9/15/2025
9/15/2025
91282CLL3
US TREASURY N/B
3.37%
9/15/2027
11,728.13
9/15/2025
9/15/2025
91282CMS7
US TREASURY N/B
3.87%
3/15/2028
21,215.63
9/22/2025
9/22/2025
49177JAF9
KENVUE INC  (CALLABLE)
5.05%
3/22/2028
2,903.75
9/22/2025
9/22/2025
931142ES8
WALMART INC  (CALLABLE)
1.50%
9/22/2028
637.50
9/24/2025
9/24/2025
007903BJ5
ADVANCED MICRO DEVICES  (CALLABLE)
4.31%
3/24/2028
1,727.60
Total  INTEREST
0.00
255,012.52
0.00
MATURITY
7/1/2025
7/1/2025
55,000.00
810454BL1
SCOTTSDALE-REF
0.60%
7/1/2025
55,000.00
8/28/2025
8/28/2025
130,000.00
3135GACV1
FANNIE MAE  (CALLABLE)
4.00%
8/28/2025
130,000.00
9/9/2025
9/9/2025
80,000.00
931142EW9
WALMART INC
3.90%
9/9/2025
80,000.00
Total  MATURITY
265,000.00
265,000.00
0.00
20

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Par ($)
CUSIP
Maturity
Date
Transact
Amount ($)
Coupon
Yield
at Market
Realized
G/L (BV)
Security Description
SELL
7/18/2025
7/21/2025
140,000.00
91282CND9
US TREASURY N/B
3.75%
5/15/2028
140,693.34
711.94
8/1/2025
8/5/2025
1,000,000.00
91282CGE5
US TREASURY N/B
3.87%
1/15/2026
1,000,492.53
-786.24
8/19/2025
8/21/2025
50,000.00
91282CGE5
US TREASURY N/B
3.87%
1/15/2026
50,147.93
-4.82
Total  SELL
1,190,000.00
1,191,333.80
-79.12
21

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Par ($)
CUSIP
Maturity
Date
Transact
Amount ($)
Coupon
Yield
at Market
Realized
G/L (BV)
Security Description
Tran.
Type
7/18/2025
7/21/2025
330,000.00
637639AK1
NATIONAL SECS CLEARING
5.00%
5/30/2028
338,158.70
4.20%
BUY
8/1/2025
8/5/2025
1,000,000.00
91282CNM9
US TREASURY N/B
3.87%
7/15/2028
1,001,430.03
3.90%
BUY
8/13/2025
8/15/2025
1,050,000.00
91282CNU1
US TREASURY N/B
3.62%
8/15/2028
1,049,138.67
3.65%
BUY
8/19/2025
8/25/2025
85,000.00
63743HFZ0
NATIONAL RURAL UTIL COOP
4.15%
8/25/2028
84,904.80
4.19%
BUY
8/27/2025
8/28/2025
135,000.00
91282CNU1
US TREASURY N/B
3.62%
8/15/2028
135,178.15
3.62%
BUY
9/8/2025
9/9/2025
85,000.00
931142ES8
WALMART INC  (CALLABLE)
1.50%
9/22/2028
80,467.66
3.61%
BUY
8/14/2025
8/14/2025
860,000.00
3134HA6J7
FREDDIE MAC  (CALLABLE)
4.75%
2/14/2028
860,000.00
4.75%
CALL
7/1/2025
7/1/2025
810454BL1
SCOTTSDALE-REF
0.60%
7/1/2025
167.20
INTEREST
7/1/2025
7/1/2025
MONEY0002
MONEY MARKET FUND
0.00%
110.43
INTEREST
7/12/2025
7/12/2025
61690DK72
MORGAN STANLEY BANK NA
5.01%
1/12/2029
3,931.29
INTEREST
7/12/2025
7/12/2025
89236TKQ7
TOYOTA MOTOR CREDIT CORP
4.62%
1/12/2028
3,815.63
INTEREST
7/15/2025
7/15/2025
91282CKZ3
US TREASURY N/B
4.37%
7/15/2027
59,500.00
INTEREST
7/15/2025
7/15/2025
91282CJT9
US TREASURY N/B
4.00%
1/15/2027
7,200.00
INTEREST
7/15/2025
7/15/2025
91282CGE5
US TREASURY N/B
3.87%
1/15/2026
37,781.25
INTEREST
7/15/2025
7/15/2025
57636QBA1
MASTERCARD INC  (CALLABLE)
4.10%
1/15/2028
1,845.00
INTEREST
7/20/2025
7/20/2025
06051GLE7
BANK OF AMERICA CORP  (CALLABLE)
5.08%
1/20/2027
2,540.00
INTEREST
7/26/2025
7/26/2025
09290DAH4
BLACKROCK FUNDING INC
4.60%
7/26/2027
2,300.00
INTEREST
8/1/2025
8/1/2025
MONEY0002
MONEY MARKET FUND
0.00%
333.42
INTEREST
22

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Par ($)
CUSIP
Maturity
Date
Transact
Amount ($)
Coupon
Yield
at Market
Realized
G/L (BV)
Security Description
Tran.
Type
8/7/2025
8/7/2025
713448GA0
PEPSICO INC  (CALLABLE)
4.45%
2/7/2028
3,448.75
INTEREST
8/7/2025
8/7/2025
06406RAB3
BANK OF NY MELLON CORP
3.44%
2/7/2028
5,249.05
INTEREST
8/12/2025
8/12/2025
532457CU0
ELI LILLY & CO  (CALLABLE)
4.55%
2/12/2028
3,753.75
INTEREST
8/14/2025
8/14/2025
3134HA6J7
FREDDIE MAC  (CALLABLE)
4.75%
2/14/2028
20,425.00
INTEREST
8/15/2025
8/15/2025
91282CLG4
US TREASURY N/B
3.75%
8/15/2027
12,187.50
INTEREST
8/15/2025
8/15/2025
91282CKA8
US TREASURY N/B
4.12%
2/15/2027
19,181.25
INTEREST
8/18/2025
8/18/2025
06428CAA2
BANK OF AMERICA NA  (CALLABLE)
5.52%
8/18/2026
2,763.00
INTEREST
8/24/2025
8/24/2025
17275RBW1
CISCO SYSTEMS INC  (CALLABLE)
4.55%
2/24/2028
796.25
INTEREST
8/26/2025
8/26/2025
166756BB1
CHEVRON USA INC  (CALLABLE)
4.47%
2/26/2028
4,027.50
INTEREST
8/28/2025
8/28/2025
3135GACV1
FANNIE MAE  (CALLABLE)
4.00%
8/28/2025
2,600.00
INTEREST
8/28/2025
8/28/2025
857477CU5
STATE STREET CORP  (CALLABLE)
4.53%
2/28/2028
5,783.40
INTEREST
8/31/2025
8/31/2025
91282CFH9
US TREASURY N/B
3.12%
8/31/2027
8,437.50
INTEREST
9/1/2025
9/1/2025
478160DH4
JOHNSON & JOHNSON  (CALLABLE)
4.55%
3/1/2028
1,086.31
INTEREST
9/2/2025
9/2/2025
MONEY0002
MONEY MARKET FUND
0.00%
515.53
INTEREST
9/4/2025
9/4/2025
17327CAW3
CITIGROUP INC  (CALLABLE)
4.78%
3/4/2029
3,709.15
INTEREST
9/9/2025
9/9/2025
931142EW9
WALMART INC
3.90%
9/9/2025
1,560.00
INTEREST
9/15/2025
9/15/2025
57636QBF0
MASTERCARD INC  (CALLABLE)
4.55%
3/15/2028
1,751.75
INTEREST
9/15/2025
9/15/2025
91282CLL3
US TREASURY N/B
3.37%
9/15/2027
11,728.13
INTEREST
23

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Par ($)
CUSIP
Maturity
Date
Transact
Amount ($)
Coupon
Yield
at Market
Realized
G/L (BV)
Security Description
Tran.
Type
9/15/2025
9/15/2025
91282CMS7
US TREASURY N/B
3.87%
3/15/2028
21,215.63
INTEREST
9/22/2025
9/22/2025
49177JAF9
KENVUE INC  (CALLABLE)
5.05%
3/22/2028
2,903.75
INTEREST
9/22/2025
9/22/2025
931142ES8
WALMART INC  (CALLABLE)
1.50%
9/22/2028
637.50
INTEREST
9/24/2025
9/24/2025
007903BJ5
ADVANCED MICRO DEVICES
4.31%
3/24/2028
1,727.60
INTEREST
7/1/2025
7/1/2025
55,000.00
810454BL1
SCOTTSDALE-REF
0.60%
7/1/2025
55,000.00
MATURITY
8/28/2025
8/28/2025
130,000.00
3135GACV1
FANNIE MAE  (CALLABLE)
4.00%
8/28/2025
130,000.00
MATURITY
9/9/2025
9/9/2025
80,000.00
931142EW9
WALMART INC
3.90%
9/9/2025
80,000.00
MATURITY
7/18/2025
7/21/2025
140,000.00
91282CND9
US TREASURY N/B
3.75%
5/15/2028
140,693.34
711.94
SELL
8/1/2025
8/5/2025
1,000,000.00
91282CGE5
US TREASURY N/B
3.87%
1/15/2026
1,000,492.53
-786.24
SELL
8/19/2025
8/21/2025
50,000.00
91282CGE5
US TREASURY N/B
3.87%
1/15/2026
50,147.93
-4.82
SELL
TOTALS
5,260,624.33
-79.12
5,000,000.00
24

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Appendix
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard
to any specific objectives or financial circumstances.
PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sources
external to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We
rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements.
While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to
particular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index
characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit
tiers on the portion of the strategy rated by a NRSRO.
It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.
Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any
sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment
performance to be lower than the performance shown.
The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast,
projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion
as of the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as
actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and
data presented are not necessarily indicative of future events or expected performance.
PFM Asset Management serves clients in the public sector and is a division of U.S. Bancorp Asset Management, Inc., which is the legal entity providing investment
advisory services. U.S. Bancorp Asset Management, Inc. is a registered investment adviser, a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S.
Bancorp. U.S. Bank N.A. is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Asset Management, Inc. The
information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.
For more information regarding PFMAM's services or entities, please visit www.pfmam.com.
Further distribution is not permitted without prior written consent.
25

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Appendix
Important Disclosures
Generally, PFMAM’s market prices are derived from closing bid prices as of the last business day of the month as supplied by ICE Data Services. There may be 
differences in the values shown for investments due to accrued but uncollected income and the use of differing valuation sources and methods. Non-negotiable 
FDIC-insured bank certificates of deposit are priced at par. Although PFMAM believes the prices to be reliable, the values of the securities may not represent the 
prices at which the securities could have been bought or sold. Explanation of the valuation methods for a registered investment company or local government 
investment program is contained in the appropriate fund offering documentation or information statement.
In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly 
balances, and forward settling sales are excluded.
Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown 
gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past 
performance is not indicative of future returns.
ICE Bank of America Indices provided by Bloomberg Financial Markets.
Money market fund/cash balances are included in performance and duration computations.
Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.
Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.
MBS maturities are represented by expected average life.
26

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Appendix
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.
Agencies: Federal agency securities and/or Government-sponsored enterprises.
Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase
date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized
on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.
Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans,
leases, credit card balances, and receivables.
Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.
Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.
Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector added
or subtracted from the overall portfolio performance.
Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.
Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compounding
on investment returns, while nominal yield does not.
FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.
Interest Rate: Interest per year divided by principal amount and expressed as a percentage.
Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.
Maturity: The date upon which the principal or stated value of an investment becomes due and payable.
Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.
Par Value: The nominal dollar face amount of a security.
Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the
mortgage-backed security.
27

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended September 30, 2025
Appendix
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.
Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and
maturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.
Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whose
decisions are binding on its members.
Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.
Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.
U.S. Treasury: The department of the U.S. government that issues Treasury securities.
Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a
percentage on an annualized basis.
YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period
from purchase date to maturity, stated as a percentage on an annualized basis.
YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time
period remaining until maturity, stated as a percentage on an annualized basis.
28